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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Barkby Group Plc | LSE:BARK | London | Ordinary Share | GB00BL6TZZ70 | ORD �0.00860675675675676 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.60 | 3.20 | 4.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Hotels And Motels | 10.3M | -9.32M | -0.0651 | -1.26 | 11.75M |
From Apr 2021 to Apr 2024
TIDMBARK
RNS Number : 5604G
Barkby Group PLC
30 March 2022
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.
30 March 2022
The Barkby Group PLC
("Barkby", the "Group" or the "Company")
Interim Results for the 26 weeks ended 30 December 2021
Barkby Group PLC (AIM:BARK), the diversified business group, announces its unaudited interim results for the period ended 30 December 2021.
Charles Dickson, Executive Chairman of the Barkby Group, commented:
"I am delighted to report that the Group generated underlying earnings of GBP1 million for the 26 weeks to 30 December 2021.
This has predominantly been driven by Barkby's Real Estate business, with several schemes progressing during the period. Following successful planning applications and the completion of multiple agreements to lease, we completed land acquisitions at Wellingborough and Malden and will now commence development at these sites. The successful planning applications and agreements to lease have resulted in a valuation uplift of GBP1.2 million across the two schemes.
We expect to complete the sale of our residential site at Saffron Waldon prior to our year end and we have a fully consented roadside development in Huntingdon where we plan to start construction later this year. Finally, we are in discussions to add significantly to our commercial development pipeline.
Despite the disruption of Omicron in November and December, trade at our pubs has grown steadily since trading restrictions were removed. The Pub Group generated earnings of GBP171,000 for the period.
We look forward to further progress as we focus on building out our property development pipeline and expanding our pub business."
OPERATIONAL HIGHLIGHTS
Commercial property division
-- Wellingborough - 14,100 sq.ft. consented commercial development scheme with agreements to lease exchanged with Greggs PLC, Formula One Autocentres Ltd and Brewers. The scheme is 75% pre-let with a further unit in legals.
-- Maldon, Essex - 15,200 sq.ft. consented commercial development scheme with agreements to lease exchanged with Costa Coffee Ltd, Toolstation Ltd and Formula One Autocentres Ltd. The scheme is 78% pre-let with the final unit in legals.
-- Saffron Walden - currently in legals with sale expected to complete in second half of FY22.
-- Huntingdon - Full consent obtained for a 31,000 sq.ft. commercial development scheme with 100% of units in legals to be let.
Barkby Pubs
-- Strong trading between July and September 2021 with record revenue and profits in that quarter.
-- All venues remained open for trade throughout the second quarter, however trading over the festive period was impacted by the Omicron variant.
-- We continue to strengthen the management teams in our pubs, despite well publicised recruitment challenges across the industry.
-- Management is confident that the business is well positioned for the traditionally busy spring and summer seasons.
FINANCIAL HIGHLIGHTS
-- Revenue for the 26 weeks to 30 December 2021 was GBP8.1m (26 weeks to 31 December 2020: GBP7.8m), with EBITDA of GBP0.7m (2020: GBP1.2m loss) and a net loss including one-off relocation costs for our roastery and start-up costs for Cambridge Sleep Sciences, of GBP0.7m (2020: 2.0m).
-- Both of the Group's core businesses, Real Estate and Barkby Pubs were profitable for the 26 week period recording net profits of GBP930k and GBP171k respectively.
-- Net cash available including undrawn facilities was GBP1.5m as at 29 March 2022.
CHAIRMAN'S STATEMENT
I am pleased to announce the interim results for Barkby Group PLC for the period ended 30 December 2021.
Over the last six months our primary focus has been to progress our property development pipeline and return our operating businesses to profitable trading.
All of our pub venues remained open throughout the period and trade returned to normalised trade levels with the exception of the festive trading period in December, which was impacted by the Omicron variant.
We continue to look for opportunities to expand our pub estate.
Real Estate
Barkby's Real Estate business made significant progress during the period. Following successful planning applications and progress on letting agreements, we completed land acquisitions at Wellingborough and Malden and have commenced development. The successful planning applications and agreements to lease have resulted in a valuation uplift of GBP1.2 million across the two schemes.
Wellingborough
-- Fully consented development of a 14,100 sq.ft. commercial scheme. -- Total expected rental income of GBP234,000 per anum. -- 75% of expected rental income is contracted, with a further 16% in legals. -- Land purchase completed in the period.
Maldon
-- Fully consented development of a 15,200 sq.ft. mixed use commercial scheme. -- Total expected rental income of GBP257,375 per anum. -- 78% of expected rental income is contracted, with the final unit in legals. -- Land purchase completed in the period.
Saffron Walden
-- Land acquired in 2010 and a series of successful planning applications completed. -- Fully consented development for the construction of 35 residential units.
-- We previously expected to complete the sale of the land during the interim period to December 2021, however we now expect to complete the sale in the second half of the 2022 financial year.
Huntingdon
-- Fully consented development for a 31,000 sq.ft. commercial scheme. -- Total expected rental income of GBP442,000 across two units. -- Both units are in legals with prospective tenants.
Swindon
-- Exchange of contracts to acquire 2.4 acre site in Swindon, subject to satisfactory planning consent.
-- Proposed 30,000 sq.ft. mixed-use retail and trade scheme with a GDV of GBP7.5m. -- Heads of terms agreed with a national occupier for the drive-thru at the front of the site.
Further opportunities
We currently have further real estate opportunities under review.
Barkby Pub Company
Following the reduction of government restrictions at the start of the financial year, Barkby's pub business had a record quarter of revenue and profits between July and September 2021. The second quarter of the financial year was partially disrupted by the Omicron variant, particularly over the festive period.
We believe our focus on excellent food and service, with a boutique accommodation offer, is well positioned for local communities and customers holidaying in the UK.
As part of our expansion strategy, Barkby entered an agreement to lease the Ebrington Arms in June 2021.
Investments
Cambridge Sleep Sciences Ltd ('CSS')
We continue to focus our sales strategy on distributor channels and currently have agreements in place with Go10 (UK), Wenatex (Australia), M-Photo (South Africa), Lifeworks (North America/Europe). We are now selling in Harrods, Selfridges as well as online channels such as Amazon.
There are significant opportunities in the Healthcare space and CSS has started clinical studies to validate the benefits of our technology. Further studies looking at disease areas where insomnia is a significant symptom are in the planning phase. We have seen positive early sleep improvement signals in patients with Parkinson's Disease.
Additional SleepHub models will be added to the range. The Anywhere device, which addresses key areas of market feedback, are on track to be available from late summer 2022.
Cambridge Sleep Sciences incurred development, marketing and administrative costs totalling GBP389k during the 26-week period.
Verso Biosense Ltd
Usense, the first product developed by Verso Biosense, begun its first clinical study in partnership with the University of Southampton and National Institute for Health Research. Usense is a novel tool that will better inform healthcare professionals when treating female infertility. During the trial, the device was successfully used to continuously monitor the uterine environment in 15 women over a 7-day period.
Liquidity
We continue to manage our cost base closely as we return to more normalized trading patters following the COVID-19 pandemic.
As of March 2022, the Group currently has net cash available of c.GBP1.5m including a working capital facility provided by Tarncourt, a related party vehicle controlled by the Dickson family.
Summary
The Group continues to deliver on its strategy to accelerate and maximise opportunities within its existing businesses and to invest in exciting businesses with the ability to disrupt. Having weathered the COVID-19 pandemic we now look forward to trading conditions improving across the most impacted parts of our business.
As part of our post-COVID strategy we intend to divest of non-core investments to focus on the core Property and Pub businesses, with the disposal of Workshop and Cambridge Sleep Sciences planned in the near future.
We would like to thank all our employees, suppliers, shareholders, and other stakeholders for their continued support during the period and into the future. Whilst recognising uncertainties remain, we look forward to the next 12 months with confidence.
Outlook and current trading
Barkby Real Estate
-- Wellingborough - exchanged a 15-year agreement to lease with Greggs Plc at a rent of GBP76,000 per anum.
-- Letter of intent issued to our contractor at Wellingborough with construction starting in April 2022.
-- Completion of the sale of Shire Hill, Saffron Walden for GBP750,000.
-- Saffron Walden under offer to a regional housebuilder with completion expected prior to our year end.
Barkby Pub Co
-- Trading has been in line with expectations across the estate. -- Looking for further acquisitions to grow the business.
Barkby Investments
-- Verso Biosense has successfully completed it clinical study for USense with 15 women.
-- Regulatory approval has been submitted to BSI for a UK CA, EU CE mark and ISO13405 certification, this is expected to be granted by September 2022.
-- Verso will now be looking to enter into formal commercial agreements with fertility clinics and clinicians within the UK and Europe to begin commercialisation of Usense.
-- CSS has continued to grow distribution channels for SleepHub adding QVC, John Lewis, Very.co.uk, GHG International and Burton & Blake.
Barkby will be looking to initiate guidance to the market prior to our year end.
Charles Dickson
Chairman
30 March 2022
Enquiries:
Hot Features
Premium
The Barkby Group PLC
Charles Dickson, Executive Chairman
Douglas Benzie, Chief Financial Officer
+44 (0) 20 7220
FinnCap (Nominated Adviser and Broker) 0500
Carl Holmes/Simon Hicks
Tim Redfern / Richard Chambers
+44 (0) 20 3757
Camarco (Financial PR) 4994
Jennifer Renwick/Jake Thomas
BARKBY GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
26 weeks ended 30 December 2021
26 weeks 26 weeks
ended ended
30-Dec-21 31-Dec-20
Note Unaudited Unaudited
GBP'000s GBP'000s
Revenue 8,110 7,795
Cost of sales (6,157) (6,765)
Gross profit 1,953 1,030
Administration expenses (3,337) (2,663)
Other income 1 41
Movements in fair values 1,250 -
---------- ----------
Loss from operations (133) (1,592)
Finance income - 49
Finance expense (581) (466)
Loss before tax (714) (2,009)
Corporation Tax expense - -
Loss and total comprehensive income for
the period (714) (2,009)
========== ==========
Loss for the period is attributable to:
Non-controlling interests (60) (77)
Owners of the Barkby Group Plc (654) (1,932)
---------- ----------
(714) (2,009)
========== ==========
Loss per share for loss attributable to Pence per Pence per
the owners of The Barkby Group Plc share share
Basic and diluted loss per share (0.48) (1.43)
All of the loss of both of the periods are from continuing operations.
The above statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.
THE BARKBY GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 December 2021
As at
30 Dec As at
2021 31 Dec 2020
Unaudited Unaudited
Notes GBP'000 GBP'000
Non-current assets
Fixed assets - owned 4 1,248 1,626
Fixed assets - leased 6 3,370 3,082
Intangible assets 5 8,444 8,614
Investments 2,542 2,542
Investment property 4,652 -
Non-current receivable 83 167
---------- ------------
20,339 16,031
Current assets
Inventories 5,004 5,932
Trade and other receivables 289 169
Other current assets 113 536
Prepayments 248 319
Cash and cash equivalents 7 94 665
---------- ------------
5,748 7,621
---------- ------------
Total assets 26,087 23,652
---------- ------------
Current liabilities
Trade and other payables (2,061) (1,534)
Other current liabilities (4,493) (3,343)
Current borrowings 9 (10,940) (6,937)
Current lease liabilities 8 (655) (592)
Income tax payable (4) (88)
---------- ------------
(18,153) (12,494)
Non-current liabilities
Non-current borrowings 9 (4,489) (5,041)
Provisions (48) (38)
Non-current lease liabilities 8 (3,288) (2,887)
---------- ------------
(7,825) (7,966)
---------- ------------
Total liabilities (25,978) (20,460)
------------
Net assets/(liabilities) 109 3,192
========== ============
Equity
Share capital 10 1,179 1,179
Share premium 4,493 4,493
Merger reserve (422) (422)
---------- ------------
Issued equity 5,250 5,250
Profit and loss reserve (6,123) (1,937)
Fair value reserve 1,250 -
Non-controlling interests (268) (121)
---------- ------------
Total equity and reserves 109 3,192
========== ============
THE BARKBY GROUP PLC
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT
26 weeks ended 30 December 2021
26 weeks 26 weeks
ended ended
30-Dec-21 31-Dec-20
Unaudited Unaudited
GBP'000s GBP'000s
Cash flows from operating activities
Loss before tax (714) (2,009)
Adjustments to reconcile loss before tax
to net cash flows
Depreciation and amortisation 487 410
Adjustment of deferred consideration - (35)
Loss on disposal of property, plant and
equipment 166 -
Movement in fair value of investment property (1,250) -
Net finance expense 581 417
Movement in working capital 1,409 5,316
Net interest paid (254) (371)
Income tax paid (21) (19)
---------- ----------
Net cash flow from operating activities 404 3,709
---------- ----------
Cash flows from investing activities
Acquisition of subsidiaries and businesses - (55)
Purchase of investments - (500)
Purchase of investment property (3,402) -
Purchase of property, plant and equipment (94) (199)
Purchase of intangible assets (23) (230)
---------- ----------
Net cash used in investing activities (3,519) (984)
Cash flows from financing activities
Proceeds from issue of shares - 125
Proceeds from borrowings 7,970 11,219
Repayment of borrowings (4,982) (13,139)
Repayment of lease liabilities (257) (186)
---------- ----------
Net cash raised in financing activities 2,731 (1,981)
Net increase/(decrease) in cash and cash
equivalents (384) 744
---------- ----------
Cash and cash equivalents at beginning of
period (221) (1,174)
---------- ----------
Cash and cash equivalents at end of period (605) (430)
========== ==========
All cashflows are from continuing operations.
THE BARKBY GROUP PLC
UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
26 weeks ended 30 December 2021
Share Share Merger Fair Retained Non-controlling Total
capital premium reserve value earnings interest
reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 2 July 2020 1,164 4,323 (422) - (5) (44) 5,016
Loss after income
tax and total
comprehensive
income for the
period - - - - (1,932) (77) (2,009)
Shares issued
to partially
settle deferred
consideration
(Turf to Table
acquisition)(a) 2 58 - - - - 60
Transactions
with shareholders
in their capacity
as shareholders
Exercise of warrants
(b) 13 112 - - - - 125
At 31 December
2020 1,179 4,493 (422) - (1,937) (121) 3,192
========= ========= ========= ======== ========== ================ ========
Loss after income
tax and total
comprehensive
income for the
period - - - - (2,282) (87) (2,369)
At 1 July 2021 1,179 4,493 (422) - (4,219) (208) 823
========= ========= ========= ======== ========== ================ ========
Loss after income
tax and total
comprehensive
income for the
period - - - - (654) (60) (714)
Fair value gains - - - 1,250 (1,250) - -
At 30 December
2021 1,179 4,493 (422) 1,250 (6,123) (268) 109
========= ========= ========= ======== ========== ================ ========
The above statement of changes in equity should be read in conjunction with the accompanying notes.
Notes:
(a) As part of the settlement of the deferred consideration in relation to the Turf to Table acquisition the Group issued 260,869 ordinary shares on the 1 October 2020 to the Turf to Table vendors. These ordinary shares were valued at GBP60,000 based on a 23p per share price. A further GBP55,000 was settled in cash.
(b) On 24 December 2020 the Group allotted 1,452,347 shares to Giles Clarke following the exercise of his warrants at a total price of GBP125,000 cash.
THE BARKBY GROUP PLC
NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
26 weeks ended 30 December 2021
1. GENERAL
These unaudited consolidated interim financial statements are for the 26 weeks ended 30 December 2021 (2 July 2021 to 30 December 2021). They do not include all the information required for full annual financial statements and should be read in conjunction with the consolidated financial statements for the year (52 week period) ended 1 July 2021 (3 July 2020 to 1 July 2021), which were prepared in accordance with International Accounting Standards in conformity with the requirements of the Companies Act 2006.
The statutory accounts for the year ended 1 July 2021 have been filed with the Registrar of Companies. Those accounts have received an unqualified audit report and did not contain statements or matters to which the auditors drew attention under the Act.
The Directors are satisfied that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, these interim financial statements have been prepared on a going concern basis as the Directors are of the opinion that the Group has sufficient funds to meet their ongoing working capital and committed capital expenditure requirements. A detailed disclosure outlining going concern considerations was provided in the statutory accounts for the year ended 1 July 2021. The Directors performed a going concern review and have concluded that no matters have arisen since that date to change the conclusion of the review.
The interim financial information is unaudited, no dividend has been declared or paid in this interim period.
2. ACCOUNTING POLICIES
The principal accounting policies and methods of computation have remained unchanged, except as noted below, from those used in the preparation of the financial statements for the year ended 1 July 2021 and are expected to be used for the financial statements for the year (52 week period) ending 30 June 2022.
Investment properties
Investment properties are properties which the Group owns, does not occupy for its own use and are held for either long term rental yields, or capital appreciation, or both. Investment properties also include property that is being developed or constructed for future use as investment property by the Group.
Investment properties comprise freehold land and buildings and are measured at fair value.
At the end of a financial period the fair value are determine by a range of valuation techniques, including independent valuations prepared in accordance with the current edition of the Appraisal and Valuation Standards published by the Royal Institution of Chartered Surveyors and valuations prepared based on the discounted future net cash inflows the site is expected to generate in its forecast use, taking into account the current status of the site and the expected costs to complete the development. These fair value based on these development appraisals, therefore reflects current market conditions, future rental income (where lease agreements have been contractual agreed) and the residual value of site after taking into account the costs and revenue from the development of the property.
There are a number of significant assumptions in these development appraisal valuations and a change in these assumptions could result in a significant change in the fair value of investment properties and therefore have a material effect on the Group's results.
A transfer to the fair value reserve is made for all fair value gains in the period from retained earnings. Where there have been previous fair value gains transferred to the fair value reserve and fair value losses have been incurred in the year then a transfer is made to retained earnings to offset as much of the fair value losses as possible.
At each subsequent reporting date, investment properties are re-measured to their fair value. Movements in fair value are included in the income statement.
Investment properties are re-categorised as development properties and moved to inventory once planning permission has been secured and development with a view to sale has commenced.
Development properties
Development properties are valued at the lower of cost and net realisable value. Cost includes the costs of purchasing the property and the costs of developing the property to its current condition. When the property has been transferred from investment property, cost includes the fair value of the property at the point it is transferred to development as its deemed cost. Net realisable value reflects the estimated selling price of the property less the costs to complete the development and sell the property.
A transfer from the fair value reserve to retained earnings is made if any net realisable value provision is required on any development property where gains had previously been recorded as an investment property.
3. LOSS PER SHARE
26 weeks 26 weeks
ended ended
30-Dec-21 31-Dec-20
Unaudited Unaudited
GBP'000s GBP'000s
Loss per share for loss (all from continuing
operations)
Loss after income tax (714) (2,009)
Non-controlling interest 60 131
Loss after income tax attributable to the
owners of The Barkby Group Plc (654) (1,878)
============ ============
pence pence
Basic and diluted loss per share (0.48) (1.43)
Number Number
of shares of shares
Weighted average number of ordinary shares
Weighted average number of ordinary shares
in issue 136,187,437 135,422,389
Dilution for warrants outstanding 1,707,959 3,104,138
------------ ------------
Diluted weighted average number of shares 137,895,396 138,526,527
============ ============
The dilutive effect of the warrants over ordinary shares is presented for information only. The theoretical adjustment is antidilutive and so the diluted loss per share is the same as the basic loss per share.
4. PROPERTY, PLANT AND EQUIPMENT
Property, plant Land and Leasehold Plant and Computer Fixtures
and equipment buildings improvements equipment equipment and fittings Total
Net book value
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
At 2 July 2021 666 274 215 97 228 1,480
Additions - 68 16 4 6 94
Disposals - (166) - - - (166)
Depreciation
charge (1) (34) (48) (29) (48) (160)
------------------ ----------- -------------- ----------- ----------- -------------- ---------
At 30 December
2021 665 142 183 72 186 1,248
Land and buildings includes GBP300,000 of freehold land. Freehold land is not depreciated.
5. INTANGIBLE ASSETS
Product
design and Patents Computer
Intangible assets Goodwill development and trademarks software Total
Net book value
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
At 2 July 2021 8,037 74 318 74 8,503
Additions - 11 - 12 23
Amortisation charge - (29) (36) (17) (82)
---------------------- ---------- -------------- ----------------- ----------- ----------
At 30 December
2021 8,037 56 282 69 8,444
6. RIGHT-OF-USE ASSETS
Right-of-use assets Buildings Pubs Total
Net book value
GBP'000s GBP'000s GBP'000s
At 2 July 2021 103 2,874 2,977
Additions and
renewals 671 - 671
Covid - 19 relief - (33) (33)
Depreciation charge (71) (174) (245)
---------------------- ---------- --------- ---------
At 30 December
2021 703 2,667 3,370
In November 2021, the Group entered into a new 12+ year lease for a building to act as the offices, warehousing and roastery for Warehouse Coffee. The resultant right-of-use asset was recognised at GBP603,000, with a lease liability of GBP603,000 also being recognised.
7. CASH AND CASH EQUIVALENTS
30-Dec-21 31-Dec-20
Unaudited Unaudited
GBP'000s GBP'000s
Cash at bank 80 647
Cash in transit 12 13
Petty cash 2 5
---------- ----------
94 665
Reconciliation to cash and cash eq
uivalents at the end of the financial
period
The above figures are reconciled to
cash and cash equivalents at the end
of the financial year as shown in the
statement of cash flows as follows:
Balances as above 94 665
Bank overdraft (699) (1,095)
Balance of cash and cash equivalents
per statement of cash flows (605) (430)
========== ==========
8. LEASE LIABILITIES
Balance New leases Covid-19 Interest Balance
Lease liabilities at and renewals relief Repayments charge at
1-Jul-21 30-Dec-21
GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s GBP'000s
Building leases 166 671 - (90) 9 756
Pub leases 3,303 - (33) (167) 84 3,187
Total lease liabilities 3,469 671 (33) (257) 93 3,943
========= ============== ========= =========== ========= ==========
Reported as
Current lease liabilities 531 655
Non-current lease
liabilities 2,938 3,288
--------- ----------
Total lease liabilities 3,469 3,943
========= ==========
As described in note 6. Right-of-use assets, the Group entered into a new building lease for Workshop Coffee in November 2021. The lease liability recognised at commencement of the lease was GBP603,000.
9. BORROWINGS
Balance Proceeds Balance
Borrowings at of borrowings Repayments at
2-Jul-21 30-Dec-21
GBP'000s GBP'000s GBP'000s GBP'000s
Bank overdrafts 305 394 - 699
Bank loans 1,309 - (152) 1,157
Vehicle finance 3,899 1,977 (2,165) 3,711
Other loans 2,129 4,755 (2,095) 4,789
Loans from related parties 4,405 1,238 (570) 5,073
--------- --------------- ----------- ----------
Total borrowings 12,047 8,364 (4,982) 15,429
========= =============== =========== ==========
Reported as
Current liabilities 7,395 10,940
Non-current liabilities 4,652 4,489
--------- ----------
Total borrowings 12,047 15,429
========= ==========
10. SHARE CAPITAL
Issued and fully paid:
30-Dec-21 1-Jul-21 30-Dec-21 31-Dec-20
No. of shares No. of shares GBP'000s GBP'000s
Ordinary shares of
GBP0.00860675675675676
each 136,948,282 136,948,282 1,179 1,179
================== ================== ============= ==============
Subsequent to the end of the interim financial period the Company issued and allotted in aggregate 6,312,856 new ordinary shares of GBP0.00860675675675676 each in the capital of the Company as follows:
1) 882,354 Ordinary Shares to the shareholders of Tarncourt Ambit Limited in relation to deferred consideration as previously disclosed in the Company's AIM Admission Document dated 19 December 2019;
2) 1,212,856 Ordinary Shares to Paul James Harding and Rachel Michala Harding, the founders and former shareholders of Centurian Automotive Limited ("Centurian"), in relation to deferred consideration payable in respect of the Company's acquisition of Centurian, pursuant to the announcement by Barkby dated 14 February 2019;
3) 833,334 Ordinary Shares to Douglas Benzie, Chief Financial Officer of the Company, in relation the completion of two years of service (the "Equity Grant"). On Admission, Mr. Benzie's beneficial interest in the Company is 833,334 Ordinary Shares representing approximately 0.58% per cent of the Company's enlarged voting rights;
4) 1,617,647 Ordinary Shares to certain advisers in lieu of certain advisory fees and other liabilities due; and
5) 1,766,665 Ordinary Shares to Tarncourt Investments LLP to settle interest and fees due on the debt facility provided by Tarncourt Investments LLP, pursuant to the debt settlement agreement, dated 3 February 2022 (the "Debt Settlement Agreement").
The shares were admitted for trading on the London Stock Exchange on 4 February 2022.
Following admission of the shares to the London Stock Exchange, the Company's issued share capital consists of 143,261,138 shares, each with equal voting rights.
11. OPERATING SEGMENTS
Real Barkby Investments Total
Estate Pubs
Workshop Centurian Life Total investments
Coffee Automotive Sciences
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue 50 3,219 780 3,956 105 4,841 8,110
Cost of sales (27) (2,081) (434) (3,548) (67) (4,049) (6,157)
-------- -------- --------- ----------- ---------- ------------------ --------
Gross profit 23 1,138 346 408 38 792 1,953
Administrative
expenses (124) (1,591) (846) (387) (389) (1,622) (3,337)
Other income - 1 - - - - 1
Movement in fair
values 1,250 - - - - - 1,250
-------- -------- --------- ----------- ---------- ------------------ --------
Profit/(loss)
from operations 1,149 (452) (500) 21 (351) (830) (133)
Net finance expense (219) (105) (21) (189) (47) (257) (581)
-------- -------- --------- ----------- ---------- ------------------ --------
Profit/(loss)
before tax 930 (557) (521) (168) (398) (1,087) (714)
Corporation tax - - - - - - -
expense
-------- -------- --------- ----------- ---------- ------------------ --------
Profit/(loss)
for the period 930 (557) (521) (168) (398) (1,087) (714)
======== ======== ========= =========== ========== ================== ========
Included within
administrative
expenses
Depreciation
and amortisation - (276) (270) (20) (87) (377) (653)
One-off costs - - (166) - - (166) (166)
Earnings/(loss)
before interest,
tax, depreciation
and amortisation 1,149 (176) (64) 41 (264) (287) 686
-------- -------- --------- ----------- ---------- ------------------ --------
Barkby
Pubs
Included within
administrative
expenses
Group costs (704)
Group depreciation
and amortisation (24)
Profit for the
period excluding
group costs 171
Earnings/(loss
) before interest,
tax, depreciation
and amortisation,
excluding group
costs 528
One-off costs
During the period ended 30 December 2021, Workshop Coffee relocated its coffee roastery, warehousing and offices. The one-off costs of GBP166,000 consists of the write off of the book value of plant and equipment that could not be relocated to the new site and so was no longer of use to the business.
The Group generated underlying earnings of GBP950,000 for the 26 weeks to 30 December 2021. This excludes interest, tax depreciation, amortisation and start-up costs incurred by Cambridge Sleep Sciences Ltd.
Real Barkby Investments Total
Estate Pubs
-------- -------- ------------------------------------------------------ --------
Workshop Centurian Life Total investments
Coffee Automotive Sciences
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Revenue 114 1,685 642 5,318 36 5,996 7,795
Cost of sales (104) (1,297) (371) (1,951) (42) (5,364) (6,765)
-------- -------- --------- ----------- ---------- ------------------ --------
Gross profit/(loss) 10 388 271 367 (6) 632 1,030
Administrative
expenses (32) (1,241) (587) (286) (517) (1,390) (2,663)
Other income - 41 - - - - 41
Movement in fair - - - - - - -
values
-------- -------- --------- ----------- ---------- ------------------ --------
Profit/(loss)
from operations (19) (812) (316) 81 (523) (758) (1,592)
Net finance expense (194) (92) (28) (113) 10 (131) (466)
-------- -------- --------- ----------- ---------- ------------------ --------
Loss before tax (216) (904) (344) (32) (513) (889) (2,009)
Corporation tax - - - - - - -
expense
-------- -------- --------- ----------- ---------- ------------------ --------
Loss for the
period (216) (904) (344) (32) (513) (889) (2,009)
======== ======== ========= =========== ========== ================== ========
Included within
administrative
expenses
Depreciation
and amortisation - (196) (149) (16) (49) (214) (410)
One-off costs - - - - -
Earnings/(loss)
before interest,
tax, depreciation
and amortisation (22) (616) (167) 97 (474) (544) (1,182)
-------- -------- --------- ----------- ---------- ------------------ --------
Barkby
Pubs
Included within
administrative
expenses
Group costs (531)
Group depreciation
and amortisation (7)
Loss for the
period excluding
group costs (366)
Loss before interest,
tax, depreciation
and amortisation,
excluding group
costs (85)
12. COPIES OF INTERIM REPORT
Copies of the interim report are available to the public from the Company at 115B Innovation Drive, Milton Park, Abingdon, Oxfordshire, OX14 4RZ and are available on the website at www.barkbygroup.com.
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END
IR URANRUNUOORR
(END) Dow Jones Newswires
March 30, 2022 02:21 ET (06:21 GMT)
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